10 days old. I don't remember anybody posting it.
This is from the WSJ
agent.
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Dow Jones Newswires, Jan. 21
Information Mgmt Seen Rising On Expected Strong 4Q
NEW YORK (Dow Jones)--Information Management Resources Inc. (IMRS)
shares continued to rise Wednesday, as expectations heighten that the
computer-services outsourcing company will beat fourth-quarter earnings
estimates, an analyst said.
Information Management shares recently were trading at 40 1/4, up 2 1/8, or
5.6%, on volume of 432,00 shares, compared with average daily volume of
265,626. Tuesday, the shares of gained more than 7%.
Furman Selz analyst Brian Maimone said the company, whose services
include resolving potential Year 2000 computer problems, is gaining a lot of
new business as corporations begin to think more seriously about the potential
computer snafus.
"Corporations are starting to spend more aggressively to fix the Year 2000
problems," he said.
According to NationsBanc Montgomery Securities analyst David Grossman,
Year 2000 solutions account for 55% to 60% of the company's business.
With the Year 2000 business strong, Maimone said he expects the company to
exceed Wall Street's expectations for the fourth quarter.
A First Call Corp. consensus of four analysts is expecting Information
Management Resources to earn 16 cents a share for the quarter ended in
December.
Grossman, who is looking for the company to earn 15 cents a share for the
quarter, said he is "comfortable " with his estimate.
The company is to report its quarterly earnings Feb. 11.
Despite its current reliance on Year 2000 business, Information Management
Resources isn't expected to flounder once 2000 comes and goes. Grossman
said as the company attracts new clients for Year 2000 solutions, it will offer
its other software and applications services to that customer base.
A Information Resources representative wasn't immediately available.
-Nancy Beiles; 201-938-5393 |
